I've been hearing a lot of worry lately about whether we're headed for another 2008-style crash. Buyers are sitting on the sidelines, and some folks are actually hoping for prices to fall. But the facts don't support a repeat.
I break down exactly what's different this time, from inventory levels to homeowner equity, and I share what economist Thom Malone said about why this is a patience scenario, not a crash scenario. If you're waiting for a deal, you'll want to hear this.
Episode 01 · 3:58
Is Another 2008 Housing Crash Coming?
0:003:58
In this episode
- 01Inventory Is Tight, Not Glutted In 2008, inventory hit a 13-month high. Today, most homeowners have comfortable equity and aren't forced to sell.
- 02Rates Are Higher, Not Lower The 30-year fixed is at 7.28 percent, up from 6.34 percent last year. Higher rates have cooled sales, but that is not a crash signal.
- 03This Is a Patience Scenario Economist Thom Malone says a housing surge is waiting for the economy to catch up. Waiting for a 2008 repeat could cost you more than jumping in.
“Rather than an economic collapse, a housing surge is waiting for the rest of the economy to catch up.”
If you're weighing a move and want to talk through your real numbers, I'm a call away. No pressure, just a straight conversation.
Jason Sims